Question on form W-8 BEN

Question on form W-8 BEN

Hello,

I am a resident of India working for U.S client and receiving money in dollars. I have the option of transferring money from their payment system to my paypal account. I also signed form W-8BEN for them.

Once I transfer amount from my paypal account to my savings account in India, do I need to pay any tax?

Please let me know.

Thanks

Asked 3 years ago in Income Tax

- Yes you are liable to pay income tax in India. Please also check the applicability of GST.

For detailed discussion you may consult telephonically.

Vivek Kumar Arora

CA, Delhi

4951 Answers

1105 Consultations

Talk to Vivek Kumar Arora

You will be required to pay taxes in India on your global income. This is irrespective of whether you transfer the money in India or not.

Depending upon your turnover (if it exceeds 20 lacs in a financial year), you will also have to register under GST

Lakshita Bhandari

CA, Mumbai

5687 Answers

934 Consultations

Talk to Lakshita Bhandari

Dear Sir,

Hope you are doing well !!

A resident will be charged to tax in India on his global income i.e. income earned in India as well as income earned outside India.

So, you are liable to pay income tax in India.

Payal Chhajed

CA, Mumbai

5188 Answers

298 Consultations

Talk to Payal Chhajed

What is the purpose of w-8ben?

Asked 3 years ago

- It is a form under US laws to collect information for payments made to Non-residents for reporting and tax deduction purpose. Check with the US payer for any tax deduction by them You can claim benefit of such tax deduction while filing ITR in India. If tax is deducted in US, collect witholding tax certificates.

For detailed discussion, you may consult telephonically.

Vivek Kumar Arora

CA, Delhi

4951 Answers

1105 Consultations